Palos Verdes real estate sales October 2024 for Palos Verdes homes increased to compared September. 51 Palos Verdes houses sold in October compared to 35 homes in September and decreased compared to the 61 homes that sold in October 2023. There were 43 Palos Verdes single family homes pending in October which increased from the 41 homes pending in September. The number of active Palos Verdes homes for sale in October (168) increased from the 166 homes for sale in September.
Average sales price for Palos Verdes homes sold in October increased to $2,331,000 compared to $2,189,000 in September and decreased from October 2023 at $2,663,000. Price per square foot for Palos Verdes houses that sold/closed escrow in October increased to $947 from $810 in September. Average days on market in October was 36 days which decreased from 39 days in September. Months of inventory (months it would take to sell existing inventory at the current rate of sale) was 3.3 months in October which decreased from 4.7 months in September for Palos Verdes homes for sale. A “normal” or balanced market is considered 3 to 6 months of inventory (less than 3 months is a seller’s market and more than 6 months is a buyer’s market). Entire charts can be accessed by clicking here or on the “Statistics” tab above.
Currently, there are 161 single family Palos Verdes homes for sale. 46 Palos Verdes houses are in escrow (19 homes have pending sales and 27 homes are active under contract). Additionally, 7 homes have sold/closed escrow in the first 8 days of November with an average sales price of $2,521,071.
To read my September report on Palos Verdes Real Estate sales, click here.
Chart courtesy of Trendgraphix, Inc.
